Charles Schwab is looking to make a statement in the exchange-traded fund space, even if its CEO Walt Bettinger wants to downplay the significance of the move.
The firm yesterday revealed in a Securities and Exchange Commission
In a conference call with reporters this morning, Bettinger played off the discounts as a win for investors. “Last time I checked, low fees on index products are great for investors,” he said. “The price investors pay for investment products is important but we’re not going to stop here.”
When asked to elaborate on his statement, Bettinger coyly said that the firm’s big picture strategy is based on the needs of its clients and reiterated that the firm’s latest move is “a great thing for investor.”
So will Schwab also cut fees on its mutual funds. Marie Chandoha, president, Charles Schwab Investment Management, said that those funds “are already offered at a great value.” She also confirmed that the firm has
And what about the firm’s much-anticipated 401(k) ETF